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the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with eric's take? is the right strategy for republicans to stick to their guns, forget about compromise? >> no. i really don't -- eric is one of my favorite people. we talk a lot. but i think that, and i did work for the speaker gingrich during the shut-down fight in '96, and it did not work out well for republicans. the president has a much bigger bully pulpit than the speaker does. newt gingrich's bully pulpit was pretty big back in those days but at some point, republicans in the house -- and i think boehner is trying to look for ways to do this, speaker boehner,
the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with...
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we are less than a month from going over the fiscal cliff and the term economists call the series of spending cuts and expiring tax breaks that will take effect the first of the year. that could cost millions of jobs and lead to a new recession. it is basically austerity on steroids. republicans with their counteroffer today again reject the president's plan if higher taxes on families earning more than $250,000 a year. wendell is live at the white house. if they reject that i don't know how far this will go. the president could blink but his eyes seem wide open. >>reporter: it is a nonstarter if they reject continuing the upper income tax cuts. the republicans say the plan cuts the deficits by $4.6 trillion based on the white house method of counting based on the recommendations of the president's deficit reduction commission but the president could disagree. the republicans say the plan would raise $800 million through tax reform but not by phasing out the upper income bush tax cuts and before the plan was announced, white house press secretary insisted the rates will not make it t
we are less than a month from going over the fiscal cliff and the term economists call the series of spending cuts and expiring tax breaks that will take effect the first of the year. that could cost millions of jobs and lead to a new recession. it is basically austerity on steroids. republicans with their counteroffer today again reject the president's plan if higher taxes on families earning more than $250,000 a year. wendell is live at the white house. if they reject that i don't know how...
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cliff which is called the series of spending cuts and expiring tax breaks which would be an economic disaster. the sticking point is the call for higher taxes for families, higher taxes on amounts earned above $250,000. everyone gets the tax cut, the first $250,000 is not taxable only but that. the president says, look, i ran on this and i am going to do this. but he is signaling he could be flexible on how high they would go. ed henry is like. this has been out there for a few days. >>reporter: that right. the president had the governors in today and they underdiscover the fiscal cliff will not just impact the national economy but have a lot of impact on state and local economies, as well, and their state budgets, et cetera. the president, though, is standing firm. and jake carney saying unless the republicans give in on tax rates and raise the bush tax rates on the rich, there is no deal and the president is willing to go off the cliff. they hammered speaker boehner's proposal. >> we don't know who pays. we don't know what we are talking about in terms actual legislation to increas
cliff which is called the series of spending cuts and expiring tax breaks which would be an economic disaster. the sticking point is the call for higher taxes for families, higher taxes on amounts earned above $250,000. everyone gets the tax cut, the first $250,000 is not taxable only but that. the president says, look, i ran on this and i am going to do this. but he is signaling he could be flexible on how high they would go. ed henry is like. this has been out there for a few days....
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it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox news sunday. plus, we've seen this movie before. the two parties edging closer and closer to the brink. we will ask our sunday panel whether we will get a happy ending or an economic disaster. and our power player of the week. a young beauty queen has to make a tough choice. all right now on fox news sunday. >> hello again from fox news in washington. well, we had quite a day around here friday with talks to avoid the fiscal cliff deadlock, and everyone saying the other side is to blame, pressure secretary geithner scheduled a ground of interviews. then friday afternoon, speaker boehner's office call
it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox...
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cliff because i think that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they're scaring everybody about this, like we've got to keep pushing on or the world is going to end and it's not as bad a the politicians are pretending it is even. look, it's not a good thing, but psyched into a level and it will be worse than the real effect of having the tax increase on the government level and that's the danger, using it as a tool to get their policies on boats sides of doing this, and they're going to cause -- the first recession is caused by psyching themselves into it and making people scared that things are going to end if we let it happen. >> toby, the final word here? >> yeah, now, we've seen this movie before and know how it ends and now, at some point, it's start after tragedy
cliff because i think that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they're scaring everybody about this, like we've got to keep pushing on or the world is going to end...
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>> it is this kind muchunging to get us over the fiscal cliff. we are two parts to the solution. focus on the correct entitlements to cut and reorganize medicare so it works but doesn't take us down the drain. >> there are no offer the allelula. zero cuts. >> we are in negotiation. what happened this week. >> it is it a call for unconditional surrender is what it is. >> you think this is going to be the deal. >> victoria when you come to a bargaining table you start high and pull back. but this proposal, had no spending cuts all all. >> there is a stimulus increase. >> it s unbelievable to me. >> what is that mark? >> you are saying -- >> we have a revenue problem. we took away a trillion out of the budget by giving tax cuts to rich people and you need to put that revenue back. >> by the way, >> we spend another trillion. >> they are tax rates . they are not tax cuts. they are tax rates . how much they bring in. >> what are you talking about? >> 84 billion a year . that is 84 billion that is enough to cover government spending for a week and a half. the issue, dc lives in a bubbl
>> it is this kind muchunging to get us over the fiscal cliff. we are two parts to the solution. focus on the correct entitlements to cut and reorganize medicare so it works but doesn't take us down the drain. >> there are no offer the allelula. zero cuts. >> we are in negotiation. what happened this week. >> it is it a call for unconditional surrender is what it is. >> you think this is going to be the deal. >> victoria when you come to a bargaining table...
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>> chris: i'm chris walls wallace, 30 days and counting, until we go over the fiscal cliff. ♪ >> chris: the president is demanding higher tax rates. congressional republicans want deeper spending would you tell us and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we'll ask the two men at the center of the negotiations, where we really stand. for the president, treasury secretary timothy geithner, for the g.o.p., house speaker john boehner. geithner and boehner, only, on fox news sunday. >>> plus we have seen this movie before. the two parties edging closer and closer to the brink. we'll ask our sunday panel whether we'll get a happy ending for an economic disaster. >>> and our power player of the week, a young beauty queen has to make a tough choice, all, right now on fox news sunday. ♪ >> chris: and, hello again from fox news in washington. well, we had quite a day around here, friday. with talks to avoid the fiscal cliff deadlock and everyone saying, the other side is to blame, treasury secretary geithner sche
>> chris: i'm chris walls wallace, 30 days and counting, until we go over the fiscal cliff. ♪ >> chris: the president is demanding higher tax rates. congressional republicans want deeper spending would you tell us and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we'll ask the two men at the center of the negotiations, where we really stand. for the president, treasury secretary timothy geithner, for the...
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cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony in this that the democrats are saying we've got to raise taxes and the fiscal cliff does both. just not in the way anybody wants it, so if they can't do that, how are they going to find a way they can all agree on? >> the superfailed committee. this is a giant hatchet as opposed to a scalpel. >> it was designed to fail. >> i agree, but the real solution and real irony is going to be the ultimate deal's going to look like the obama boehner grand bargain that was negotiated and almost done in the summer of 2011. the fact that we couldn't make that deal then i think's a tragedy for the country. one of the thing's it did was lead to that aaa downgrading. that was unnecessary. >> let me just follow up on this point of what republicans should accept. you said you'd go back to the clinton era tax rates if you could
cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony in this that the democrats are saying we've got to raise taxes and the fiscal cliff does both. just not in the way anybody wants it, so if they can't do that, how are they going to find a way they can all agree...
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i'm certain if this is not good enough for the white house, we will go over the fiscal cliff. >> this is a compromise on taxes. this is a compromise on mandatory spending. and it's a compromise on discretionary spending over what the select committee had debated. >> i should mention that erskine bowles has put out a statement himself. while i'm flattered the speaker would call something the bowles plan. the outline in the letter the speaker sent to the president does not represent the bowles simpson plan, nor is it the bowles plan in my testimony on deficit reduction. i simply took the mid point of the public offers, put forward during the negotiations to demonstrate where i thought a deal could be reached at the time. he's very much backing away from speaker boehner's letter. the question i wanted to ask you is some of the details, as you know, it's all in. >> can we spin one more point on that? >> absolutely. >> here's speaker boehner who is taking a mid point on the compromise between the two sides and offered it, and it's already flatley rejected? >> i think he may be rejected, si
i'm certain if this is not good enough for the white house, we will go over the fiscal cliff. >> this is a compromise on taxes. this is a compromise on mandatory spending. and it's a compromise on discretionary spending over what the select committee had debated. >> i should mention that erskine bowles has put out a statement himself. while i'm flattered the speaker would call something the bowles plan. the outline in the letter the speaker sent to the president does not represent...
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until they fix the fiscal cliff. at least let's fix the fiscal cliff and make sure that american families aren't faced with possible larger tax bills come january. >> wouldn't it just make you feel better if you didn't feel that the real reason we're goeng to get a fiscal cliff resolution, whether tas little tinkering or something bigger wasn't because they wanted to be home for christmas. >> i certainly don't think they should go home before the situation is resolved, but i also think when you're looking at what kind of congress you want, you want a responsive congress, rooted in american communities, not inside the beltway. >> you would want mondays and fridays off, too, and you're trying to make the argument. >> americans want their leaders to work, period. >> thanks to both of you. "outfront" next, breaking news. the billionaire software tycoon is on the run and martin savidge just literally caught him. he was running. he's going join us with that right after this. he's getting it ready for you at this instant an
until they fix the fiscal cliff. at least let's fix the fiscal cliff and make sure that american families aren't faced with possible larger tax bills come january. >> wouldn't it just make you feel better if you didn't feel that the real reason we're goeng to get a fiscal cliff resolution, whether tas little tinkering or something bigger wasn't because they wanted to be home for christmas. >> i certainly don't think they should go home before the situation is resolved, but i also...
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. >> we're now a month away from the so called fiscal cliff. a drastic combination of mandatory spending cuts and tax hikes that could plunge the united states back into a recession. while there are plenty of hard w0rds from both sides, some terms of a possible zeal are making the rounds. kate bolduan has been following the back and fourth. >> don't get too excited about that, there's only one way to avoid the fiscal cliff. spending cuts and tax hikes. house republicans and president obama need to strike a deal on reducing the national debt. they have soundly rejected a white house offer that included $1.6 trillion in revenue, $400 billion in medicare and other entitlement savings, as well as a permanent increase in the debt limit among other things. so far, the rhetoric has not softened. treasury secretary tim geithner arriving on capitol hill for high level talks, most notably with house speaker john boehner. >> good morning, everyone. >> how did it go? just listen. >> despite the claims that the president supports a balanced approach, the de
. >> we're now a month away from the so called fiscal cliff. a drastic combination of mandatory spending cuts and tax hikes that could plunge the united states back into a recession. while there are plenty of hard w0rds from both sides, some terms of a possible zeal are making the rounds. kate bolduan has been following the back and fourth. >> don't get too excited about that, there's only one way to avoid the fiscal cliff. spending cuts and tax hikes. house republicans and...
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we go over the so-called fiscal cliff. and massive government spending cuts. >> and some people fear going off of the cliff could cost thousands of jobs and push our fragile economy back in recession. it seems like we have been down this road before. that deal according to the president and congressional republicans is far from a sure thing. the president said it was a so-called balanced approach to solve this crisis and what he proposed this week was a classic bait and switch on the american people. >> it is unacceptable for republicans to hold middle class tax hostage because they refuse to let them go up on the wealthiest americans. >> people saying that the deal he offered doesn't look like a deal. steve is live in the washington bureau. is there any movement on either side. >> not much. a few republicans who are willing to talk about higher tax rev news but not higher tax rates. the president made a direct appeal to the public. the toy factory in pin pen. he urged congress to pass a bill and extend the era tax cuts fo
we go over the so-called fiscal cliff. and massive government spending cuts. >> and some people fear going off of the cliff could cost thousands of jobs and push our fragile economy back in recession. it seems like we have been down this road before. that deal according to the president and congressional republicans is far from a sure thing. the president said it was a so-called balanced approach to solve this crisis and what he proposed this week was a classic bait and switch on the...
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it is a republican compromise solution to the impending fiscal cliff. spending cut and tax increases that both sides mean would mean recession. after what both sides called a frustrating weekend. today's development don't appear to break a log jam. not yet. ed henry begins our coverage. >> reporter: good evening. they are saying the plan is ridiculous, so much so they will not offer counterproposal to the g.o.p. counterproposal and say tonight unless speaker boehner gives in on raising taxes on the rich, the president is ready to go off the cliff. >> right now i'd say we are nowhere, period. nowhere. >> john boehner declaring a stalemate in an exclusive with fox, as republicans teed off on president obama first offer that included new spending plus 1.6 trillion in tax hikes. totally unacceptable. >> i think we are going over the cliff. it's clear to me they made political calculation. white house officials insisted disaster could be amended and demanded a counter offer on the table. >> what we hope for is specificity from the republicans. >> an hour lat
it is a republican compromise solution to the impending fiscal cliff. spending cut and tax increases that both sides mean would mean recession. after what both sides called a frustrating weekend. today's development don't appear to break a log jam. not yet. ed henry begins our coverage. >> reporter: good evening. they are saying the plan is ridiculous, so much so they will not offer counterproposal to the g.o.p. counterproposal and say tonight unless speaker boehner gives in on raising...
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for the first time, we're getting a look at what the white house is offering to stop the fiscal cliff stalemate. drastic mandatory tax hikes and spending cuts will kick in with the new year unless, unless the white house and republicans can reach a deal. for weeks, gop lawmakers have said we're just waiting for the white house to give details, specifics, some numbers. well, tonight that's happened. the white house is calling their bluff and they've laid out how they want to cut the debt. jessica yellin is over at the white house for us tonight with new developments. jessica, what are the specifics of this offer tonight? >> reporter: hi, wolf. according to senior officials on both sides of the aisle, the president is asking for $1.6 trillion in new taxes. that includes raising taxes for families who make $250,000 or more. you'll recognize that as a pledge from his campaign. and it also includes limiting deductions and loopholes as well as other changes to capital gains and dividends taxes. well, that is the headline for republicans, wolf, who say it is far more money in tax rates than
for the first time, we're getting a look at what the white house is offering to stop the fiscal cliff stalemate. drastic mandatory tax hikes and spending cuts will kick in with the new year unless, unless the white house and republicans can reach a deal. for weeks, gop lawmakers have said we're just waiting for the white house to give details, specifics, some numbers. well, tonight that's happened. the white house is calling their bluff and they've laid out how they want to cut the debt....
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it's 10:00 on the east coast and we begin with brooking news on the looming fiscal cliff. and signs of a potential fall. for the past few nights we've been telling you about the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise. but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials would behave like spoiled children in the fiscal cliff discussions. only 28% said they would behave like responsible adults. tonight, signs that maybe some adult behavior might be prevail. and a compromise might be reached. joining me now, dana bash, jessica yellin, and david gergen. what's the latest? >> reporter: they are a long way from a deal. but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no
it's 10:00 on the east coast and we begin with brooking news on the looming fiscal cliff. and signs of a potential fall. for the past few nights we've been telling you about the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise. but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials...
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going over the fiscal cliff is serious business. i am here seriously trying to reresolve it. >>reporter: a lot of people wonder if speaker boehner is trying to show he is fighting against some of the tax changes and he will come along to a deal. vice president biden went to a costco in washington, today, proclaimed himself optimistic there will be a deal and bought a big screen tv and and an apple pie. >>shepard: you mention speaker boehner and the fact is there is a group if his party, the conservative part that doesn't want him to act like he is moving and that is who he is talking to today? >>reporter: they want him to dig in. they want him to completely resist essentially going back to the old clinton administration tax rates of 39.6 percent on the top level. the bottom line when you ask about whether there is any progress there are signs of progress from the white house briefing and carney today said the president said in this phone call to speaker boehner, any deal has to have the rates going up but in the end, carney said it doesn't necessarily, he didn't say this dire
going over the fiscal cliff is serious business. i am here seriously trying to reresolve it. >>reporter: a lot of people wonder if speaker boehner is trying to show he is fighting against some of the tax changes and he will come along to a deal. vice president biden went to a costco in washington, today, proclaimed himself optimistic there will be a deal and bought a big screen tv and and an apple pie. >>shepard: you mention speaker boehner and the fact is there is a group if his...
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cliff. >> first, the fiscal cliff, relative to our nation's spending driven debt crisis is a pothole. you've got 0.3% of all americans that have million dollar incomes. this is a shell game. you can't tax your way out of this problem. i mean, you have revenues that are about the same levels they were five or six years ago, when deficits were running $100, $150 billion. now we know deficits are running $1 to $1.5 trillion. what's changed is on the spending side yet all this discussion is on the tax revenues. you can tax every millionaire 100% and run the government for two or three months. this is a spending driven crisis and it has to be solved on the spending side. until the president gets serious about it, i'm not sure what there is to talk about, soledad. >> i'm not sure that the only conversations have just been on the tax side. i actually think there have been conversations on both. at this moment, right, we're going over or toward the fiscal cliff. if you do nothing, all of our taxes are going up. why not, as a first move, say, listen, nobody at this point wants to raise taxes
cliff. >> first, the fiscal cliff, relative to our nation's spending driven debt crisis is a pothole. you've got 0.3% of all americans that have million dollar incomes. this is a shell game. you can't tax your way out of this problem. i mean, you have revenues that are about the same levels they were five or six years ago, when deficits were running $100, $150 billion. now we know deficits are running $1 to $1.5 trillion. what's changed is on the spending side yet all this discussion is...
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it's because the company blamed the fiscal cliff for its dramatically lower fiscal fourth quarter guidance which has sent the stock plummeting. it was down as much as 20% earlier today. the ceo joe kennedy says advertisers are being particularly cautious about spending in january which is included in pandora's fiscal fourth quarter. >> we did reduce guidance. i think it is very prudent because of this unique situation we have in which we're sensitive to the mix of ad spend in january as opposed to february and march. >> now, the last time pandora's stock dropped this much in one day was back in october on reports of apple preparing to launch a streaming music service. wall street analysts are keeping an eye on those very tough competitive issues as well as the fact that pandora spends over half its revenue on music licensing fees. the c.o.o. says he thinks the company is on good track and points to its mobile growth. though, investors do seem skeptical. brian. >> julia, thank you very much for that. we're going to leave it there. running a little short on time. is pandora's plunge a big bu
it's because the company blamed the fiscal cliff for its dramatically lower fiscal fourth quarter guidance which has sent the stock plummeting. it was down as much as 20% earlier today. the ceo joe kennedy says advertisers are being particularly cautious about spending in january which is included in pandora's fiscal fourth quarter. >> we did reduce guidance. i think it is very prudent because of this unique situation we have in which we're sensitive to the mix of ad spend in january as...
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i want to ask you about the fiscal cliff, the state of play. there's revenues on the table. there's tax rate increases on the table. i don't know if there's spending on the table. what's your thinking prigt now? >> that it's a really, really bad idea to raise taxes. if you want your economy to grow, you should do the opposite. we have to cut taxes. that's how i'd fix the economy. leave more money in the private sector. the president is adamant about raising taxes and he's dead wrong. >> there are some people saying we need a deal to avoid a huge tax increase but year end that would throw us into recession. just a thought, would you compromise in terms of let's say a smaller tax rate increase -- let's say the top rate goes to 37% instead of 40%, maybe the threshold goads es to $500,000 $750,000 rather than $250,000? does that interest you? >> no. but what about means testing for entitlement. why don't we say the rich get less social security and they pay more for their medicare? it meets the president's animus that we must get more money out of the rich. let's just send less
i want to ask you about the fiscal cliff, the state of play. there's revenues on the table. there's tax rate increases on the table. i don't know if there's spending on the table. what's your thinking prigt now? >> that it's a really, really bad idea to raise taxes. if you want your economy to grow, you should do the opposite. we have to cut taxes. that's how i'd fix the economy. leave more money in the private sector. the president is adamant about raising taxes and he's dead wrong....
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this is not the whole fiscal cliff but just the sequester. $1.2 trillion of mandatory spending cuts over ten years and scheduled for january 2nd. half of that money cut in defense. half in everything else. next year alone could take $65 billion out of spending and a million jobs versus growing 2 million which is what the u.s. is on track to do now. i fully understand the government needs to spend less and spend more efficiently but how you achieve it is as important as how much you cut and the sledge hammer approach is not economically sound. now, there are targeted and measured ways to do it without driving the country in to another recession. some debate today as to whether we're in one or not but the sequester will only make things worse. congress, solve it. solve it nowme. we're all watching. housing is hot. if you have credit and money for a down payment, the perfect time to buy. nationally, affordability is the best it's been in a long time. new york city is the least affordable place in america to purchase a home. no big surprise here. home prices in new york are nearly two and a
this is not the whole fiscal cliff but just the sequester. $1.2 trillion of mandatory spending cuts over ten years and scheduled for january 2nd. half of that money cut in defense. half in everything else. next year alone could take $65 billion out of spending and a million jobs versus growing 2 million which is what the u.s. is on track to do now. i fully understand the government needs to spend less and spend more efficiently but how you achieve it is as important as how much you cut and the...
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tell us about fiscal cliff. are you worried about the fiscal cliff? >>guest: you bet your life. people in my district are, small business people if my district are concerned about it. people have to plan not just for the bill of today but the bills and the tax responsibilities they are going to have if tomorrow. i listened to a previous guest, the people, the small business people in my community, 97 per science -- percent to not make $250,000 a year personal salaries so they are not affected by the top 2 percent. having said that, they want people to get back to work. people to have jobs to have incomes to buy from the small business people. blue are small or large you want to know which, how are the laws going to be, what are the tax lie bills going to be, and this congress owes it to the american people to tell them. >>eric: congressman, america has always been about hard working people earning, creating jobs, creating opportunity, passing a better life on to the next generation, to their kids, i don't know, at some point maybe you say it is time to man up, go over the fiscal
tell us about fiscal cliff. are you worried about the fiscal cliff? >>guest: you bet your life. people in my district are, small business people if my district are concerned about it. people have to plan not just for the bill of today but the bills and the tax responsibilities they are going to have if tomorrow. i listened to a previous guest, the people, the small business people in my community, 97 per science -- percent to not make $250,000 a year personal salaries so they are not...
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Dec 1, 2012
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cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] in blind taste tests, even ragu users chose prego. prego?! but i've bought ragu for years. [ thinking ] woer what other questionable choices i've made? i choose date number 2! whooo! [ sigh of relf ] [ male announcer ] choose taste. choose prego. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that's fair and balanced
cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] in blind taste tests, even ragu users chose prego. prego?! but i've bought ragu for years. [ thinking ] woer what other questionable choices i've made? i choose date number 2! whooo! [ sigh of relf ] [ male announcer ] choose taste. choose prego. i...
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Nov 30, 2012
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in the same small town staring at the same fiscal cliff. both with a message for washington. >> i would love for them to come here and just spend a day, spend a week just to know what small business goes to. >> do your job. make a decision. >>> now, suzanne, the exception of just a few extra tax breaks, small businesses are pretty much taxed just like me and you, just like individuals. if we fall off that fiscal cliff, there is no doubt that their taxes are going to go up, but what might hurt them even more than increased taxes, the experts tell me, is less money in their customers' pockets because they're going to have less buying power, and it's really two-fold 230r these businesses. >> do we have any idea of how much their tacks would go up if this actually happens? >> right. if we fall off the cliff, as you just heard from john boehner, we're nowhere near a solution in washington, souths a real possibility the tax policy center has made some estimates. what they're saying is if you are on the bottom tile of individuals or small business
in the same small town staring at the same fiscal cliff. both with a message for washington. >> i would love for them to come here and just spend a day, spend a week just to know what small business goes to. >> do your job. make a decision. >>> now, suzanne, the exception of just a few extra tax breaks, small businesses are pretty much taxed just like me and you, just like individuals. if we fall off that fiscal cliff, there is no doubt that their taxes are going to go up,...
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Dec 2, 2012
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cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] take dayquil... [ ding! ] ...and spend time on the slopes. take alka-seltzer plus cold & cough... [ buzz! ] ...and spend time on the chair. for non-drowsy 6-symptom cold & flu relief. take dayquil. use nyquil d... [ ding! ] ...and get longer nighttime cough relief. use tylenol cold multisymptom nighttime... [ coughs ] [ buzz! ] [ screams ] ...and you could find yourself... honey? ...on the couch. nyquil d. 50% longer cough and stuffy nose relief. . >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that's fair and balanced. and that kind of agreement would be good for our businesses, it'd be good for our economy, it would be good for our children's future and i believe that both parties can agree on a frame work that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> so
cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] take dayquil... [ ding! ] ...and spend time on the slopes. take alka-seltzer plus cold & cough... [ buzz! ] ...and spend time on the chair. for non-drowsy 6-symptom cold & flu relief. take dayquil. use nyquil d... [ ding! ] ...and get longer...
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cliff, the automatic spending cuts and tax increases that go into effect january 1. >> i think we're farther apart but we're coming together. >> i think we're nowhere, period. >> thursday treasury secretary tim geithner presented obama's plan, including $1.4 trillion in tax increases. >> there's not going to be an agreement without rates going up. >> president obama also proposed a $16 billion of spending cuts. >> i'm just flabbergasted. i looked at him and said you can't be serious. >> the house speaker says republicans put increased revenues including efforts to close tax loopholes and put the tax cuts on the table instead of raising tax rates for anyone. >> if there's another way to get income from upper income americans that doesn't hurt our economy, then why wouldn't we consider it. >> those are publicly unchanged deadlines. whether political theater or political reality, there's more to going over the fiscal cliff far beyond hypothetical. >> i think we're going over the clif. >> if they are going to force higher rates on virtually all americans because they're unwilling to let
cliff, the automatic spending cuts and tax increases that go into effect january 1. >> i think we're farther apart but we're coming together. >> i think we're nowhere, period. >> thursday treasury secretary tim geithner presented obama's plan, including $1.4 trillion in tax increases. >> there's not going to be an agreement without rates going up. >> president obama also proposed a $16 billion of spending cuts. >> i'm just flabbergasted. i looked at him and...
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Dec 3, 2012
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in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking about is the president's plan which was delivered to gop leaders last week by the treasury secretary, timothy geithner. ca calls for $1.6 trillion in new revenue. republicans say that figure is unacceptable. until they present their own plan the white house is standing by that proposal right now. despite the parties and lines in the sand we're joined by two republican law make rs. i've overwhelmed by republican lawmakers this morning. >> you're surrounded, soledad. >> connie mack is with us this morning and mary bono mack. i'm used to it on this show. it's interesting to hear boehner saying, listen, nowh
in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking...
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Nov 30, 2012
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. >> members of his own party seem quite comfortable with sending the economy over the fiscal cliff. no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> speaker boehner doesn't want to propose spending cuts, so now he's trying to pressure the white house to do it. >> there's been no serious discussion of spending cuts so far. and unless there is, there's a real danger of going off the fiscal cliff. >> a reporter asked senate majority leader harry reid about speaker boehner's comments. >> he says that democrats have got to get serious about cuts, spending cuts. where is the disconnect then? >> i don't understand his brain, so you should ask him. okay? >> and, of course, another day more republicans dumping grover norquist. among nebraska and is iowa republicans, most of them told the world herald this week they could support a broad budget agreement, even if the deal ends up including higher tax revenues. i won't have a problem with letting those tax rates go up, representative mike simpson said to reuters. but new york
. >> members of his own party seem quite comfortable with sending the economy over the fiscal cliff. no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> speaker boehner doesn't want to propose spending cuts, so now he's trying to pressure the white house to do it. >> there's been no serious discussion of spending cuts so far. and unless there is, there's a real danger of going off the fiscal cliff. >> a...
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Nov 29, 2012
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say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from entitlement reform will not be part of the talks while pelosi spell noncommittal whether the cuts will be in the deal. still, the administration is trying to breathe life to the talks, with vice president biden shopping at new costco in washington, picking up a big screen tv and apple pie and insisting he is optimistic of a deal. >> i am. i am. all the folks in the store, man. going to make a difference. >> carney shot down a politico report that a phone call last night between boehner and the president was curt, noting it was 28 minutes long and productive. signaling the president is flexible on taxes not being
say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from...
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Nov 29, 2012
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the fiscal cliff? >> listen, there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible question ] going over the fiscal cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag a
the fiscal cliff? >> listen, there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible...
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the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual meetings with the top four leaders of congress. what republicans have said they want to hear, and republicans will be critical, because they need republican support to get any final fiscal cliff deal through the senate, and also through the house, they say they hope that he's coming with concrete spending cut ideas that are acceptable to the administration. one of the meetings today will be with senate republican leader mitch mcconnell who a short time ago sounded pretty fired up. >> the only reason democrats are insisting on raising rates is because raising rates on the so-called rich is the holy gr
the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual...
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Dec 6, 2012
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cliff." across-the-board spending cuts and tax increases as we all know will kick in if a budget agreement isn't reached by the end of the month. the president also met with ceos of some of the nation's largest companies hoping to convince them of the need for higher tax rates at upper income levels. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering but, rather, because we need to raise a certain amount of money. >> house majority leader eric cantor says more needs to be done about spending right now. >>> meanwhile, public policy polling conducted an unusual survey to test american knowledge about debt reduction policy. people were asked what they thought of the panetta burns planning, something that doesn't even exist. one-fourth of the people took a stance on it anyway. 8% are in support by golly. 17% opposed. >> that's right. it's important to do research. >> absolutely. >> do your homework. >>> apple stock is coming off one of its worst sections on
cliff." across-the-board spending cuts and tax increases as we all know will kick in if a budget agreement isn't reached by the end of the month. the president also met with ceos of some of the nation's largest companies hoping to convince them of the need for higher tax rates at upper income levels. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering but, rather, because we need to raise a certain amount of money. >> house majority leader...
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we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts, there will be a foot race to fire people if we don't get this cliff taken care of which is why if we're going over the
we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts,...
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and the president act so-called fiscal cliff. on the senate floor today, top senate democrat, here he was, harry reid, said the republican counteroffer unveiled yesterday is a serious proposal. reid called the offer a nonstarter. his word. but a serious proposal nonetheless. in an interview just today with bloomberg tv, president obama did not reject the gop offer outright. officials have called it a step backward, not worthy of a counteroffer. but, you know, bottom line here, you have two sides they appear to be pretty far apart with no new negotiations happening at least not to our knowledge. so, with me now from capitol hill is representative peter wel welch. democrat from vermont. good to see you. thanks for coming on. >> thank you. >> so let me just pose this one to you. you just heard harry reid, would you agree with harry reid the plan offered yesterday by that house speaker is, quote unquote, a serious plan? >> well, you know, i don't know the details of it. it is $800 billion supposedly in revenues and it is a lot of med
and the president act so-called fiscal cliff. on the senate floor today, top senate democrat, here he was, harry reid, said the republican counteroffer unveiled yesterday is a serious proposal. reid called the offer a nonstarter. his word. but a serious proposal nonetheless. in an interview just today with bloomberg tv, president obama did not reject the gop offer outright. officials have called it a step backward, not worthy of a counteroffer. but, you know, bottom line here, you have two...
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january 2, 2013, $110 billion in fiscal cliff spending cuts due to begin. march 27, 2013, funding of the federal government expires. august 1, 2013, white house's suggested deadline for resolving major changes to the tax code and entitlements. ron has this to say about the fiscal cliff -- let's hear from ray in philadelphia, a republican caller. caller: good morning. i think the republicans have to get out a better message. if we realize we ran out of money for all the programs we are having, what is going to happen in another 10 years? what happens is, these people earning more than $250,000, they worked from the age of 18 to move up the ladder and finally reached success. the pint the republicans have to make is it is time to lower taxes on middle-class families. it has reached a pinnacle. it is time to may be lower taxes on the middle-class. we have to cut spending because the economy is in such bad positicondition. democrats keep pointing out that 98% of businesses are less than $250,000. 98% of people working in those businesses -- with that went to in
january 2, 2013, $110 billion in fiscal cliff spending cuts due to begin. march 27, 2013, funding of the federal government expires. august 1, 2013, white house's suggested deadline for resolving major changes to the tax code and entitlements. ron has this to say about the fiscal cliff -- let's hear from ray in philadelphia, a republican caller. caller: good morning. i think the republicans have to get out a better message. if we realize we ran out of money for all the programs we are having,...
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Dec 1, 2012
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plupging off the fiscal cliff would be a buzz kill at the end of the year, wouldn't it? a 1-2 punch. not only higher taxes but spending cuts that could effect everybody from students to senior citizens. u.s. senate is hitting iran with new punishments for nuclear program. this time the white house says it's against the move. and a 70-year-old tennis referee charged with murdering her husband of half a century. police say blood splattered all over the house. she says she is innocent. wait until you hear what a judge just did. that's coming up as we approach the bottom of the hour and the top of the news on a friday fox report. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's t
plupging off the fiscal cliff would be a buzz kill at the end of the year, wouldn't it? a 1-2 punch. not only higher taxes but spending cuts that could effect everybody from students to senior citizens. u.s. senate is hitting iran with new punishments for nuclear program. this time the white house says it's against the move. and a 70-year-old tennis referee charged with murdering her husband of half a century. police say blood splattered all over the house. she says she is innocent. wait until...
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if taxes go up on middle income people, if that happens because of the fiscal cliff, they will spend less money at the cash register. those people will buy less from fastsigns. melissa: thank you for being here. promise me you will all come back. >> we'll come back. melissa: thank you. >> thank you. melissa: just when you thought there couldn't be anymore bailouts, think again. the federal housing administration is on the verge of collapse and you and i could be stuck with a multibillion-dollar tab. >>> syria's regime loading bombs with sarin gas. is it ready to blow through the u.s.'s so-called red line. details on this story coming up. do you ever have too much "money". [ male nouncer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a gal plan attorney is available in most states with every personalized document to answer questions. get startedt legalzoom.com today. and now you're protected. melissa: so in case you hadn't heard we could be looking a
if taxes go up on middle income people, if that happens because of the fiscal cliff, they will spend less money at the cash register. those people will buy less from fastsigns. melissa: thank you for being here. promise me you will all come back. >> we'll come back. melissa: thank you. >> thank you. melissa: just when you thought there couldn't be anymore bailouts, think again. the federal housing administration is on the verge of collapse and you and i could be stuck with a...
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by now you likely know that the fiscal cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the white house. how much much revenue would the president's plan raise by raising the tax rates for high earners? >> about $1 trillion the next 10 years from the rate increase. that is just part of a package that also includes limits on deductions and tax credits and aims to pull in a total of $1.6 trillion. republicans want to keep tax rates the same b end deductions and loopholes but obama says that will not get the job done. >> it is not possible to raise the amount of revenue required for a balance the package if all you rely on is closing deductions and loopholes. let me amend that. it is possible
by now you likely know that the fiscal cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the...
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the kinds of spending you're seeingo a great eent on the fiscal cliff and president's pl and lesser extent to the republican plan, largely disctionary spending cs. a lot coming out of defense. these are not longerm ructural chaes t will put on a path to a balaed budt. that will not happen. melissa: the other thing that struckme about the graphic when you look at it, the threat f from republicans hey, we would rath go over the cliff rather than take the president's deal, to me doesn't look terribly credible when you look at actual numbers. unss you take into perspective we're not really going overor years. but it is just going over the cliff is so focus on raising taxes, on absolutely everybody and spending cuts are really nothat imprsive in tes of getting, you know, the gap down smalle they say if you compare it to the white house plan they would rather g over the cliff. i'm not sure that is really credible given those mbers. what do you think?. >> way some rublicans not l, growing number of republicans are looking at this, assigningle to the president, making clea this t president'slan an
the kinds of spending you're seeingo a great eent on the fiscal cliff and president's pl and lesser extent to the republican plan, largely disctionary spending cs. a lot coming out of defense. these are not longerm ructural chaes t will put on a path to a balaed budt. that will not happen. melissa: the other thing that struckme about the graphic when you look at it, the threat f from republicans hey, we would rath go over the cliff rather than take the president's deal, to me doesn't look...
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. >> so the called fiscal cliff of mandatory tax increases and spending cuts is to you just 30 days away. but judging by today's talk in washington democrats and republicans are hardly any closer to finding a solution. here's anna werner. >> reporter: a week closer to the december 31st deadline, treasury secretary timothy geithner told bob schieffer any potential deal will have to include a tax hike on the upper 2% of income earners. >> there is no way to raise a meaningful amount of revenue relative to the size of our fiscal challenge by just limiting the value of deductions for the wealthiest americans. >> reporter: he said the biggest obstacle is republicans who refuse to acknowledge that fact. >> there's nothing that stands in the way of that agreement. except for the potential risk that a group of republicans decide, they hold up an agreement because they want to extend tax cuts for the wealthiest that we can't afford. >> reporter: on fox news 2 sunday speaker john boehner was not optimistic. >> i would say we're nowhere. period. we're nowhere. >> reporter: earlier this week house g
. >> so the called fiscal cliff of mandatory tax increases and spending cuts is to you just 30 days away. but judging by today's talk in washington democrats and republicans are hardly any closer to finding a solution. here's anna werner. >> reporter: a week closer to the december 31st deadline, treasury secretary timothy geithner told bob schieffer any potential deal will have to include a tax hike on the upper 2% of income earners. >> there is no way to raise a meaningful...
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they want to avoid the fiscal cliff, balanced approach, they want us to do it right now. >> right now secretary geithner should be wrapping up a meeting with the senate republican leader mitch mcconnell. maybe they will have a press conference. meeting with house democratic leader nancy pelosi at the top of the hour. dennis: i am sure the sox will gyrate wildly in response. thank you very much. cherly the u.s. embassy in cairo ordered close as protest continues over a recent decree by president mohamed morsi granting himself near absolute power in that country. managing director joins me now. obviously the impact now of the market here in the oil market in particular is what is each of the false into civil war. what happens to oil them. >> you have to look at the suez canal, therefore the price of oil. they do have a history of the army stepping in to maintain this. order in a situation like "the trade" time, what we have now is a different type of egypt. we had a guest on yesterday telling us the muslim brotherhood and hamas are the same thing. a terrorist organization in the minds o
they want to avoid the fiscal cliff, balanced approach, they want us to do it right now. >> right now secretary geithner should be wrapping up a meeting with the senate republican leader mitch mcconnell. maybe they will have a press conference. meeting with house democratic leader nancy pelosi at the top of the hour. dennis: i am sure the sox will gyrate wildly in response. thank you very much. cherly the u.s. embassy in cairo ordered close as protest continues over a recent decree by...
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they are going to work with congress on spending cut and other fiscal cliff details. the first meeting will be tomorrow on the hill. >> pelley: major, president said today he thought all this could be done by christmas. why does he think so? >> reporter: because that is the big takeaway, scott, from the president's conversation on saturday with house speaker john boehner. the two agreed it was in foeryone's best interest to get a fiscal cliff deal sooner rather than later, both agreed to aim for one before christmas, but they also acknowledged, scott, it will be very difficult to achieve that. >> pelley: thank you, major. will the president's team find a receptive republican congress? nancy cordes is on capitol hill for us tonight. nancy. >> reporter: well, scott, one top republican aide actually told me today that he sees these talks as one-sided, that republicans have been making all the proposals, and speaker boehner said he's still waiting for a balanced offer from the white house. >> republicans are willing to att revenue on the table but it's time for the presid
they are going to work with congress on spending cut and other fiscal cliff details. the first meeting will be tomorrow on the hill. >> pelley: major, president said today he thought all this could be done by christmas. why does he think so? >> reporter: because that is the big takeaway, scott, from the president's conversation on saturday with house speaker john boehner. the two agreed it was in foeryone's best interest to get a fiscal cliff deal sooner rather than later, both...
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but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of getting close to it, the president has to be able to pivot and to say how do i turn this political advantage into a real policy accomplishment? and, wolf, i don't think you're going to do that with continued campaign style events like we just saw meeting with middle class families. okay. we get that. that occurred during the campaign. the white house has clearly gotten its message out. i think now there has to be a next step. you know, timing is everything in politics. and this is absolutely no different. what i'm getting from talking to some democrats on the hill is i think there's actually a lot of pen
but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of...
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jon: talk about government spending, we've got that fiscal cliff coming up january 1. might this conversation somehow be used to make some progress on that? >> reporter: it could because of the fact the other person on mitt romney's schedule today is congressman paul ryan, the house budget chairman. of course was his running mate back during the campaign. paul ryan has a key role in these budget talks of course as well. where they stand, a short time ago vice president biden went to a local costco here in washington, d.c., proclaimed himself optimistic they would get a deal. the fact of the matter yesterday, erskine bowles, a key player as well, saying he is slightly pessimistic. he says there is 2/3 chance they will go off the fiscal cliff. that is not what the markets want to hear, jon. jon: not at all. ed henry at the white house. if jay carney relents and let you into the meeting give us a shot. we'll be on air. >> reporter: i will give you a copy of the menu. jon: please do, thanks. jenna: we'll forget about politicians just for a moment. i promise we'll return th
jon: talk about government spending, we've got that fiscal cliff coming up january 1. might this conversation somehow be used to make some progress on that? >> reporter: it could because of the fact the other person on mitt romney's schedule today is congressman paul ryan, the house budget chairman. of course was his running mate back during the campaign. paul ryan has a key role in these budget talks of course as well. where they stand, a short time ago vice president biden went to a...
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if he goes off to hawaii and spends three weeks there, and no deal happens and the fiscal cliff hits and we've got the largest tax increase in history and the markets plummet and he's sitting over there splashing in the surf, i don't think he can do it. >> i wonder what other nations think about us? this is, you know, is it a terrible problem we are going through right now, but we look like we can't handle our own business. we can't talk to each other, we can't figure out our own economics, and i can't think what kind of morale authority do we have in the world when we look so pathetic, so pathetic in terms of how we handle things and the fact that we don't? >> the problem with the american people is today they are -- greta, they are as deeply divided and polarized as we have almost ever been. look what boehner is could go right now in making a deal. he's violates his fundamental principles. he's violatings a commitment he made to the american people. he's doing something that he thinks will hurt the american economy, $800 million of tax on job creators, he's splitting his party, he'
if he goes off to hawaii and spends three weeks there, and no deal happens and the fiscal cliff hits and we've got the largest tax increase in history and the markets plummet and he's sitting over there splashing in the surf, i don't think he can do it. >> i wonder what other nations think about us? this is, you know, is it a terrible problem we are going through right now, but we look like we can't handle our own business. we can't talk to each other, we can't figure out our own...
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want to continue the conversation on fiscal cliff. this one republican has really been making news with this -- we'll call it an outside the box idea to avoid at least part of this fiscal cliff. he is suggesting to extend the bush cuts for the 98% of americans right now since at least both sides agree that has to happen and then haggle over the top 2% later. >> the republican in the middle of this all is congressman tom cole from oklahoma. congressman cole, speaker boehner and others have thrown cold water on this idea. let's clear this up right now. you still stand by this notion, pass the tax cuts for the 98% right now, deal with the 2% after the new year but essentially let those da tax breaks for the top 2% expire? >> i do think where we agree on 98%, we should take that off the table so americans don't have to worry about that. that actually strengthens our position. at the end of the day it's a discussion amongst republicans over tactic, not a division or debate. the president would be well advised if he's serious to actually br
want to continue the conversation on fiscal cliff. this one republican has really been making news with this -- we'll call it an outside the box idea to avoid at least part of this fiscal cliff. he is suggesting to extend the bush cuts for the 98% of americans right now since at least both sides agree that has to happen and then haggle over the top 2% later. >> the republican in the middle of this all is congressman tom cole from oklahoma. congressman cole, speaker boehner and others have...
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washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had this or struck by lightning and the odds are about the same. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ malennouncer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ]
washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had...